California Public Employees Retirement System sells 8,197 shares of Interactive Brokers Group, Inc. (NASDAQ: IBKR)
California Public Employees Retirement System reduced its position in shares of Interactive Brokers Group, Inc. (NASDAQ: IBKR – Get Rating) by 4.7% during the 1st quarter, according to the company in its latest Form 13F filed with the Securities and Exchange Commission. . The fund held 164,646 shares of the financial services provider after selling 8,197 shares during the period. California Public Employees Retirement System’s holdings in Interactive Brokers Group were worth $10,852,000 when it last filed with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently changed their positions in the company. First Horizon Advisors Inc. increased its stake in Interactive Brokers Group by 112.7% in the fourth quarter. First Horizon Advisors Inc. now owns 336 shares of the financial services provider worth $26,000 after acquiring 178 additional shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Interactive Brokers Group by 692.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 420 shares of the financial services provider valued at $28,000 after acquiring 367 additional shares in the last quarter. Fifth Third Bancorp increased its holdings in Interactive Brokers Group by 72.4% in the fourth quarter. Fifth Third Bancorp now owns 381 shares of the financial services provider valued at $30,000 after acquiring an additional 160 shares in the last quarter. Westpac Banking Corp acquired a new stake in Interactive Brokers Group in the fourth quarter worth approximately $30,000. Finally, First Quadrant LLC CA acquired a new stake in Interactive Brokers Group in the first quarter worth approximately $40,000. 20.49% of the shares are currently held by institutional investors.
Analysts set new price targets
Several stock analysts have published reports on the company. Goldman Sachs has upgraded Interactive Brokers Group from a “neutral” rating to a “buy” rating and set a price target of $90.00 on the stock in a Tuesday, April 26 research note. Bank of America raised its price target on Interactive Brokers Group from $111.00 to $117.00 and gave the company a “buy” rating in a Wednesday, April 20 research note. Compass Point lowered its price target on Interactive Brokers Group to $85.00 in a Friday, June 3 research note. Finally, StockNews.com upgraded Interactive Brokers Group from a “sell” rating to a “hold” rating in a Tuesday, July 19 research note.
Insider Activity at Interactive Brokers Group
In related news, Chairman Thomas Peterffy sold 20,000 shares in a trade on Monday, May 16. The stock was sold at an average price of $54.99, for a total value of $1,099,800.00. Following the completion of the sale, the President now directly owns 2,607,511 shares of the company, valued at approximately $143,387,029.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the past three months, insiders have sold 540,000 shares of the company valued at $30,478,600. 5.72% of the shares are held by insiders.
Interactive Brokers Group shares up 0.8%
NASDAQ:IBKR shares opened at $61.42 on Friday. Interactive Brokers Group, Inc. has a 12-month low of $52.18 and a 12-month high of $82.83. The stock’s 50-day moving average is $57.26 and its 200-day moving average is $61.76. The company has a market capitalization of $25.68 billion, a price-earnings ratio of 23.99, a PEG ratio of 0.73 and a beta of 0.79.
Interactive Brokers Group (NASDAQ:IBKR – Get Rating) last released its results on Tuesday, July 19. The financial services provider reported earnings per share of $0.84 for the quarter, missing analyst consensus estimates of $0.92 per ($0.08). Interactive Brokers Group achieved a return on equity of 3.13% and a net margin of 9.64%. The company posted revenue of $656.00 million for the quarter, versus analyst estimates of $745.46 million. During the same period of the previous year, the company made earnings per share of $0.82. Interactive Brokers Group revenue for the quarter decreased 13.0% compared to the same quarter last year. Equity research analysts expect Interactive Brokers Group, Inc. to post earnings per share of 3.75 for the current fiscal year.
Interactive Brokers Group announces dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 14. Shareholders of record on Thursday, September 1 will receive a dividend of $0.10 per share. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Wednesday, August 31. The Interactive Brokers Group payout ratio is 15.63%.
About Interactive Brokers Group
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Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company specializes in the execution, clearing and settlement of transactions in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange-traded funds (ETFs), metals and cryptocurrencies. It also provides custody and account services for hedge funds and mutual funds, ETFs, registered investment advisers, proprietary trading groups, introducing brokers and individual investors.
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